Southern Engines of Global Growth

Edited by Amelia U. Santos-Paulino and Guanghua Wan

Contributions from world class established authors, covering the most pressing issues in international finance and development

Historical and current systematic analysis that provide accessible material on case studies and country experiences

Useful theoretical, analytical and empirical resources for scholars, students and policymakers alike

Covers the Asian Giants, China and India, as well as the emerging economies of Brazil and South Africa

Southern Engines of Global Growth

Edited by Amelia U. Santos-Paulino and Guanghua Wan

Description

China, India, Brazil, and South Africa are reshaping the world economy. These Southern Engines countries have experienced a dramatic transformation in their productive and trade capabilities, consequently turning into global super powers. The current age of globalization, in which the Southern Engines have a primary role, faces a mixed set of interconnections wherein countries and economic agents are linked closely together by trade in goods and services, flows of capital, and movements of talent and skills. Much has been written about the spectacular performance of the Asian Giants, China and India. Arising from a UNU-WIDER research project, this collection goes further by studying the substantial contribution of other large emerging countries such as Brazil and
South Africa. Using a wealth of data, as well as case studies, the book provides a detailed history review of industrialisation and economic development.

The volume explores the foundations of the Southern Engines development experiences, and how these could provide resourceful lessons to the developing world. Additionally, the foremost patterns of international politics and governance are dealt with by leading scholars, who critically assess how the Southern Engines have contributed to rebalance geopolitics. This volume is a stand alone reference for researchers and policy makers concerned with international development and global governance. The studies jointly provide valuable insights for other developing countries in the pursuit of sustainable growth and forward looking
development strategies.

Southern Engines of Global Growth

Edited by Amelia U. Santos-Paulino and Guanghua Wan

Table of Contents

1. Introduction: Southern Engines of Global Growth, Amelia U. Santos-Paulino and Guanghua WanPART I HISTORICAL, ECONOMIC AND POLITICAL CONTEXT 2. China, India, Brazil, and South Africa in the World Economy: Engines of Growth?, Deepak Nayyar3. Southern Engines of Global Growth: Very Long Cycles or Short Spurts?, Meghnad DesaiPART II DEVELOPMENT APPROACHES AND GROWTH PATHS 4. China's Economic Growth: Trajectories and Evolving Institutions, Jun Zhang5. Global Growth and Distribution: Are China and India Reshaping the World?, Maurizio Bussolo, Rafael E. De Hoyos, Denis Medvedev and Dominique van der Mensbrugghe6. Vietnam Following in China's Footsteps: The Third Wave of Emerging Asian Economies, Jean-Raphael Chaponniere, Jean-PierreCling and Bin ZhouPART III THE ROLE OF CAPITAL FLOWS, INVESTMENT AND TRADE 7. The Liberalization of Capital Outflows in CIBS: What Opportunities for Other Developing Countries?, Ricardo Gottschalk and Cecilia Azevedo Sodre8. CIBS, Capital Flows, and Exchange Rates: What Lessons Have Been Learnt since the East Asian Crisis in 1997/98?, Marion Pircher9. Foreign Direct Investment from China, India, and South Africa in sub-Saharan Africa: A New or Old Phenomenon?, John Henley, Stefan Kratzsch, Mithat Kulur and Tamer Tandogan10. National Policies to Attract FDI in R&D: An Assessment of Brazil and Selected Countries, Mariana Zanatta, Eduardo Strachman, Flavia Carvalho, Pollyana C. Varrichio, Edilaine Camillo, and Mariana Barra11. Foreign Direct Investment and
Trade in the Southern African Development Community, Henri Bezuidenhout and Wim Naude

Southern Engines of Global Growth

Edited by Amelia U. Santos-Paulino and Guanghua Wan

Author Information

Amelia U. Santos-Paulino is a Research Fellow at the World Institute for Development Economics Research (UNU-WIDER) in Helsinki, Finland. Previously she was a Research Fellow at the Institute of Development Studies at the University of Sussex. She has served as a research economist at the Central Bank of the Dominican Republic and as an advisor to the Government of the Dominican Republic. She specializes in trade and development, with particular reference to developing and least developed countries, and her work has been published in several academic publications including the Economic Journal, and World Development. She has been a consultant for the United Nations Development Programme (UNDP), for the World Bank, and for the United Nations Conference on Trade and
Development (UNCTAD). She holds a PhD in Economics from the University of Kent. Guanghua Wan is a well-known China specialist and applied economist, author of an expansive list of books and published papers in top refereed journals. His recent work focuses on inequality and poverty in China and elsewhere and has appeared in the Review of Income and Wealth, Journal of Comparative Economics, and Review of Development Economics. He is among the leading group of researchers to develop and apply the regression-based inequality decomposition framework. Dr Wan has served as a consultant to many international organizations and advises the Chinese government on rural development, income distribution, and science and technology policies. He is honorary professor of several leading
universities in China including Fudan University and Zhejiang University.